Hudson Valley Real Estate Market Still Overheated

New Yorkers scouring northern towns for second homes have pushed prices up and made it harder for locals to find affordable homes.

West of the Hudson River, in the tiny Ulster County hamlet of Accord, Jacob Meglio also has found profit — and some ambivalence — in the influx of newcomers. Mr. Meglio, 32, is a co-founder and managing partner of Arrowood Farm, a brewery and distillery that grows much of the produce it uses and was able to keep its bar open this winter for the first time in five years of operation.

Born in nearby Kingston and a citizen of Accord, he views this windfall through a double lens. The pandemic has been “great for business, but challenging for the people we care about,” he said.